This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Delek US Holdings Reports Record Net Income For Fourth Quarter And Full-Year 2012

Yemin concluded, “We began 2013 in a strong financial position. The successful creation of Delek Logistics has given us a new platform for growth. Our improved liquidity position should give us the ability to take advantage of growth opportunities, and should allow us to continue returning cash to shareholders. Strategic initiatives to continue improving our crude slate flexibility are well underway, which will not only improve our profitability in the near-term, but will also maximize flexibility in the long-term. We expect the improved pipeline access will increase our ability to source Midland crude to approximately 87,000 barrels per day from our current level of approximately 45,000 barrels per day. When combined with locally sourced crude, we will have approximately 105,000 barrels per day of cost advantaged crude supplies. With increased access to cost advantaged crude and a strong financial position, we look forward to creating additional value for our shareholders during 2013.”

Change in Segment Reporting

As a result of the offering of Delek Logistics and related transactions, we have reclassified certain operating segments. The majority of the assets previously reported as our marketing segment and certain assets previously operated by our refining segment were contributed to Delek Logistics as part of the Delek Logistics offering. The results from the operation of these assets are now reported in our logistics segment. Further, certain operations previously included as part our marketing segment were retained by Delek and are now reported as part of our refining segment. The historical results of the operation of these assets have been reclassified to conform to the current presentation.

Refining Segment

Refining segment contribution margin increased to $147.6 million in the fourth quarter 2012, versus $32.1 million in the fourth quarter 2011. Both refineries showed significant margin improvement on a year-over-year basis as crude differentials were less volatile in fourth quarter 2012 compared to the prior year period. Contribution margin at the El Dorado refinery increased to $54.8 million in the fourth quarter 2012 from a negative contribution margin of $13.1 million in fourth quarter 2011. Contribution margin at Tyler increased to $92.8 million in the fourth quarter 2012 from $44.8 million in the same period prior year.

3 of 8

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,081.89 -49.97 -0.29%
S&P 500 2,014.89 +15.91 0.80%
NASDAQ 4,796.6090 -42.0340 -0.87%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs